Saudi Arabia pours $3.5 billion into Uber

[oberliner]

Uber said Wednesday that it is getting a massive cash infusion from Saudi Arabia.

The oil-rich nation's sovereign investment fund is putting $3.5 billion into the global transportation company and will get a seat on Uber's board of directors.

Funding for new tech companies has been slowing in recent months amid concerns that many startups have been over-valued. But San Francisco-based Uber has been able to raise billions of dollars as it pursues ambitious plans to expand around the world.

Uber says its ride-hailing service now operates in nine countries of the Middle East, one of its fastest-growing markets. In Saudi Arabia, which does not allow women to drive, 80% of Uber passengers are women.

http://www.latimes.com/business/technology/la-fi-tn-uber-saudi-arabia-20160601-snap-story.html

[smirkymonkey]

1. So are women allowed to ride with male drivers unaccompanied?

How does that work over there?

[oberliner]

3. Apparently so

This is from another article on the subject:

Because Uber drivers are working through established transportation companies, Abukhater says that the company's presence in the country hasn't raised any new concerns about women traveling alone with male drivers, which has been an issue in other regions (including the U.S.), where new ride sharing services, including Uber, rely on car owners who aren't licensed as transport providers.

http://www.fastcompany.com/3048461/app-economy/how-uber-is-changing-life-for-women-in-saudi-arabia

[Gomez163]

2. See I read that as Saudi Arabia pours $3.5 billion into Beer.